EURCAD stops near strong resistance and on the background of bullish trend the chart is forming a pattern that can form both upward and downward momentum
TA on the high timeframe:
1) Globally, a bullish trend is visible, but before strong resistances the price stops and forms consolidation
2 Consolidation is forming between key liquidity areas
TA on the low timeframe:
1) A symmetrical triangle is formed against the background of a bullish trend
2) Positive aspects of this pattern are that it is clear where to open trades (border breakout).
3) But, at the same time, in a bullish trend the price can break the support of the pattern and we will see a correction.
4) It is not important for us which of the borders will be broken, we need to wait for a signal, and it will be a breakout of the border with subsequent consolidation below or above the line.
Key support📉: lower triangle boundary, 1.47000.
Key resistance📈: upper triangle boundary, 1.47978
TA on the high timeframe:
1) Globally, a bullish trend is visible, but before strong resistances the price stops and forms consolidation
2 Consolidation is forming between key liquidity areas
TA on the low timeframe:
1) A symmetrical triangle is formed against the background of a bullish trend
2) Positive aspects of this pattern are that it is clear where to open trades (border breakout).
3) But, at the same time, in a bullish trend the price can break the support of the pattern and we will see a correction.
4) It is not important for us which of the borders will be broken, we need to wait for a signal, and it will be a breakout of the border with subsequent consolidation below or above the line.
Key support📉: lower triangle boundary, 1.47000.
Key resistance📈: upper triangle boundary, 1.47978
❤️ Telegram channel: t.me/AndeWave
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❤️ Telegram channel: t.me/AndeWave
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.